iSpecimen Inc. shares surged 42.4% in extended trading following the announcement of a private placement that is expected to raise approximately $5.5 million in gross proceeds. The jump represents the largest single-day after-hours move for the stock in over one year, although the share price remains trading near its 52-week low. Trading volume in the after-hours session exceeded the prior day’s average by roughly 60%, underscoring strong investor focus on the company’s financing strategy.

Under a securities purchase agreement with accredited investors, iSpecimen will issue 6,875 shares of newly designated Series C Convertible Preferred Stock at $800 per share. Each preferred share carries a $1,000 stated value and is convertible into common stock at 85% of the closing price on the day prior to conversion. E.F. Hutton & Co. is serving as exclusive placement agent. The closing is expected on December 31, 2025, subject to customary conditions, and registration rights have been granted to facilitate resale of shares upon conversion.

Net proceeds from the financing will be deployed to accelerate marketing initiatives, bolster working capital and support general corporate purposes. Management highlighted plans to expand partnerships within its biobank and hospital network, enhance technology integration and drive customer acquisition in key therapeutic research areas. Investors will be watching the incremental investment in data analytics and platform scalability, which could further differentiate iSpecimen’s marketplace in the competitive biospecimen sourcing industry.